SB92 Alabama 2013 Session

Summary

Primary Sponsor

Paul Sanford

Republican

Co-Sponsor

Scott Beason

Session

Regular Session 2013

Title

Corporate income tax rate reduced to five percent, const. amend.

Description

Under existing law, the state corporate income tax rate is set at six and one-half percent on the net income of corporations.

This bill would propose an amendment to Amendment No. 212, as amended by Amendment No. 662 to the Constitution of Alabama of 1901, and now appearing as Section 211.03 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, to reduce the tax rate on the net income of corporations to five percent beginning with the calendar year 2015.

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Subjects

Constitutional Amendments